The Market Size for Widgets Is 75 Million Units

question 19

Multiple Choice

The market size for Widgets is 75 million units. If SPI Ltd has a market share of 38% and the average sales price is $4.50 per Widget, what is the dollar amount of sales of SPI?

• A)$128.5 million
• B)$128.3 million
• C)$122.4 million
• D)$122.5 million

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Definitions:

Cultural Evolution

The theory that culture changes over time due to various factors such as innovation, diffusion, and social learning, somewhat analogous to biological evolution.

Notion Of Progress

The idea or belief that society, technology, the economy, and cultures are moving forward and improving over time.

Horticulturalists

Individuals or societies that specialize in the art and science of cultivating plants, especially fruits, vegetables, and ornamental plants.

Agriculturalists

Individuals or societies that engage in agriculture, the practice of cultivating soil, producing crops, and raising livestock for human use.